managerial accounting

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Managerial Accounting

THE HELLER SCHOOL FOR SOCIAL POLICY AND MANAGEMENTBRANDEIS UNIVERSITYHS 251fManagerial AccountingSpring 2007Brenda AndersonOffice: Golding 20, Sachar 13Phone: 781-736-8423Email: banders@Course Description: The purpose of this course is to provide a general introduction to the concepts, problems and issues related to managerial accounting. Managerial accounting predominantly addresses the internal use of economic information regarding the resources used in the process of producing goods and providing services. Internal users of accounting information are all of those individuals that are involved in the business decision-making process of the economic entity. In the course, you will become acquainted with some of the conventional methods of internal reporting used in planning, control and decision-making. Fundamental aspects of cost behavior and cost accounting will also be discussed, but always from the perspective of the manager who must make decisions rather than the accountant who prepares the information.Management Discipline Skills and Competencies: Upon completion of this course, the student will be able to (1) understand the nature of product and service cost measurement and behavior, (2) analyze costs using cost/volume/profit analysis, (3) employ a number of cost allocation techniques and (4) analyze a variety of short term business problems (outsourcing, special orders, etc.) using differential cost approaches.Readings:Garrison, Noreen and Brewer, Managerial Accounting, 11th Edition (McGraw Hill/ Irwin) Course Requirements:Quiz 20%Exam 65%Class Participation 15%Students are expected to attend all class sessions and to actively participate in class discussions. Class participation involves being regularly engaged in the discussion/lecture and making a positive contribution by asking thoughtful questions, sharing relevant experiences, requesting clarification and making comments. All forms of participation should be conducted in a manner that is respectful of fellow students and the professor.Provisions for Feedback: Performance feedback will be provided to students in the form of grades and written comments on exams. The reading and assignment schedule presented in this syllabus is a tentative schedule and is subject to change.Academic Integrity: Academic integrity is central to the mission of educational excellence at Brandeis University. Each student is expected to turn in work completed independently, except when assignments specifically authorize collaborative effort. It is not acceptable to use the words or ideas of another person- be it a world-class philosophers or your lab partner - without proper acknowledgement of that source. This means that you must use footnotes and quotation marks to indicate the sources of any phrases, sentences, paragraphs or ideas found in published volumes, on the internet, or created by another student. Violations of university policies on academic integrity, described in Section 3 of Rights and Responsibilities, may result in failure in the course or on the assignment, and could end in suspension from the University. If you are in doubt about the instructions for any assignment in this course, you must ask for clarification.Notice: If you have a documented disability on record at Brandeis University and require accommodations, please bring it to the instructor’s attention prior to the second meeting of the class. If you have any questions about this process, contact Beth Mann, disabilities coordinator for the Heller School at bmann@.Course ScheduleDate Session Assignment1/17 1 Introduction to Management Decision Making andUnderstanding Cost Behavior in an OrganizationReadings: Chapters 1, 2E2-1, E2-2, E2-7, P2-26, P2-27 (1&2only), P2-29Case: C2-301/24 2 Allocating Common Costs to Products and Services: How Much Does It Really Cost to Produce a Product or Provide a Service?Reading: Chapter 2&3E3-2, E3-3, E3-6, P3-20, P3-24, P3-27, P3-29, P3-30Case Assignment: Walking Hand in Hand*1/31NO CLASS – BRANDEIS MONDAY2/7 3Overhead Cost Allocation/ Intro. to CVP AnalysisReading: Chapter 5E5-4, E5-5, E5-6, P5-14, P5-16Case Assignment: Child’s Play*2/14 4Analyzing the Cost, Volume, Profit RelationshipQUIZReading: Chapter 6E6-3, E6-4, E6-5, E6-7, E6-9, P6-19, P6-22, P6-232/21NO CLASS – UNIVERSITY RECESS2/26 LAST DAY TO DROP MODULE I CLASSES2/28 5 Differential Cost AnalysisReading: Chapter 13E13-3, E13-4, E13-5, E13-6, E13-7, P13-17, P13-20,P13-18Case Assignment: Happy Homes3/7 6Differential Cost AnalysisReading: Chapter 13P13-22, P13-233/14 7 FINAL EXAM*Cases to be distributed by professor。

Managerial Accounting PPT (1)

$50
$0 1995
McGraw-Hill/Irwin
2000
2005
2007
Slide 3
Internet Usage The Internet fuels globalization by providing companies with greater access to geographically dispersed customers, employees, and suppliers.
Slide 16
Lean Production
The five step process results in a “pull” manufacturing system that reduces inventories, decreases defects, reduces wasted effort, and shortens customer response times.
McGraw-Hill/Irwin
Slide 10
Learning Objective 2
Understand the basic concepts underlying Lean Production, the Theory of Constraints, and Six Sigma.
McGraw-Hill/Irwin
McGraw-Hill/Irwin
Slide 9
The Chief Financial Officer (CFO)
A member of the top management team responsible for:

Providing timely and relevant data to support planning and control activities. Preparing financial statements for external users.

管理会计的专业术语

管理会计的专业术语预算（budget）是以数量形式对未来做出的计划。

商业活动程序（business process）是在商务活动中为完成一定的任务而遵守的一系列步骤。

首席财务官（chief financial officer）是企业高层管理团队成员，负责为企业的计划、控制活动以及编制财务报告提供及时和相关的数据支持。

约束（constraint）是阻止企业和个人实现其目的的事项。

控制（control）是为实现企业目标，保证企业各部门有效运行而制定的程序并获得反馈的过程。

财务部长（controller）是企业高层管理团队成员，直接对首席财务官报告，负责向管理当局提供及时、相关的财务数据并编制财务报告。

控制活动（controlling）是确保企业计划贯彻执行以及根据客观情况的变化对计划进行必要修改的活动。

公司治理（corporate governance）是一种对公司进行指导和控制的系统。

如果公司治理结构能够有效运行，那么既可以推进管理者视公司利益为工作目标，又可以实现公司对管理者业绩的有效监督。

分权化管理（decentralization）是通过赋予各层管理者与其职责相对应的决策权实现公司决策权的分解。

指导与推进（directing and motivating）是调动员工按照公司计划进行日常经营的管理活动。

企业信息化系统(enterprise system) 是将企业全部数据整合在一个中央数据库，以便于全体员工使用的软件系统。

企业风险管理（enterprise risk management）是为实现企业目标，对企业所面临的风险进行确认、量度和采取措施防范的过程。

反馈（feedback）是会计报告和其他形式的报告帮助管理者进行业绩监督，以及使管理者着眼于未曾注意到的机会和问题。

财务会计（financial accounting）是为公司股东、债权人、和其他外部利益相关者提供会计信息的活动。

Managerial Accounting McGraw Hill

Managerial Accounting McGraw Hill IntroductionManagerial accounting is a branch of accounting that focuses on providing financial information and analysis to managers within an organization. It helps managers make informed decisions and effectively manage the resources of the organization. McGraw Hill is a renowned publishing company that offers a wide range of educational materials, including textbooks on managerial accounting. In this document, we will explore the key features and benefits of the Managerial Accounting textbook by McGraw Hill.Overview of Managerial AccountingManagerial accounting involves the identification, measurement, analysis, interpretation, and communication of financial information to help managers in decision-making. It differs from financial accounting, which mainly serves external stakeholders such as investors and creditors. Managerial accounting focuses on internal users, including managers at various levels within the organization.The Managerial Accounting textbook from McGraw Hill provides a comprehensive overview of the concepts, theories, and techniques used in managerial accounting. It covers a wide range of topics, including cost behavior, budgeting, performance evaluation, decision analysis, and strategic planning.Key Features of Managerial Accounting McGraw Hill1. Easy-to-Understand LanguageThe textbook uses clear and concise language to explain complex managerial accounting concepts. It is written in a way that is accessible to students with varying levels of prior knowledge in accounting.2. Real-World Examples and Case StudiesTo enhance learning and understanding, the textbook includes numerous real-world examples and case studies. These examples help students apply the concepts they have learned to practical situations faced by managers in organizations.3. Comprehensive Coverage of Managerial Accounting TopicsFrom cost behavior analysis to capital budgeting, the Managerial Accounting textbook covers all the essential topics in managerial accounting. It provides a solid foundation for students to build their knowledge and skills in this field.4. Explanatory Diagrams and TablesComplex accounting information is often presented visually through diagrams and tables. This textbook utilizes such visual aids effectively, making it easier for students to grasp the key concepts and relationships.5. End-of-Chapter Exercises and ProblemsEach chapter concludes with a variety of exercises and problems designed to reinforce the concepts covered in the chapter. These exercises help students test their understanding and apply what they have learned.6. Online ResourcesMcGraw Hill offers a range of online resources to accompany the textbook. These include interactive quizzes, additional practice problems, and supplemental materials that further enhance the learning experience.Benefits of Using Managerial Accounting McGraw Hill1. Comprehensive Learning ResourceThe Managerial Accounting textbook by McGraw Hill serves as a complete learning resource for students studying managerial accounting. It covers all the necessary topics and provides a solid foundation for further exploration.2. Practical Application of ConceptsThe real-world examples and case studies included in the textbook allow students to apply the concepts they have learned to practical situations. This enhances their problem-solving and critical thinking skills.3. Engaging and Accessible ContentThe use of easy-to-understand language, explanatory diagrams, and tables, coupled with the online resources, makes the learning experience engaging and accessible for students.4. Preparation for Professional Exams and CertificationsThe Managerial Accounting textbook aligns with the content covered in professional exams and certifications, such as the Certified Management Accountant(CMA) exam. Using this textbook can help students prepare for these exams and increase their chances of success.5. Authoritative and Trusted SourceMcGraw Hill is a highly respected publishing company known for its quality educational materials. Using the Managerial Accounting textbook from McGraw Hill ensures that students are learning from an authoritative and trusted source.ConclusionThe Managerial Accounting textbook by McGraw Hill provides a comprehensive and accessible resource for students studying managerial accounting. Its clear language, real-world examples, and online resources make it an excellent tool for learning and understanding essential managerial accounting concepts. Whether preparing for professional exams or seeking to enhance their knowledge in this field, students will find this textbook to be a valuable asset throughout their studies.。

Managerial Accounting Canadian Edition (11)

9
Copyright John Wiley & Sons Canada, Ltd.
CHAPTER
11
Static Budget Reports
Hayes Company – Example

We will use selected data for Hayes Company that provides budget and actual sales data for the Kitchenmate product in the first and second quarters of 2012.
a. b.
timeliness. timeliness and specificity.
c.
d.
data at one level of activity.
data at many levels of activity.
15
Copyright John Wiley & Sons Canada, Ltd.
Prepared by: Jerry Zdril, CGA
CHAPTER
11
Budgetary Control

A major function of management is to control operations
Develop Budgets
Takes place by means of budget reports which compare actual results with planned objectives Provides management with feedback on operations

unit 15Introduction to Managerial Accounting

4
Ⅱ. Managerial Accounting and Decision-making
• Management accountant has a wide range of responsibility involving professional knowledge and skill in the preparation and the presentation of information to all levels of management in the organization structure.
Planning
Strategy
Positioning
Budgeting
7
(1) Strategy
• A business usually spends a great deal of management time and effort to develop its strategy because of its importance.
3
Ⅰ. Managerial Accounting vs Financial Accounting
Main users Purposes Principle Information Frequency Auditing
Financial Accounting
Managerial Accounting
2
Ⅰ. Managerial Accounting vs Financial Accounting
• Similarity
➢ Each field of accounting deals with the economic events of an enterprise. For example, cost.

会计学原理名词解释

1.Accounting会计（学）: is an information and measurement system that id entifies records andcommunicates relevant reliabl e and comparabl e information about an organization’s businessactivities.2.Managerial accounting管理会计: is the area of accounting that serves the d ecision-marking needs ofinternal users3.Events项目: refer to happenings that affect an entity’s accounting equation and can be reliablymeasured.4.External user外部使用者: of accounting information are not directly involved in running theorganization.5.Internal user内部使用者: of accounting information are those directly efficiency and effectivenessof an organization.6.Ethics: are beliefs that distinguish right from wrong. They are accepted standards of good and badbehavior.7.Cost principl e（历史）成本原则: means that accounting information is based on actual cost.8.Revenue recognition principl e（营业）收入确定原则: provid es guidance on when a company mustrecognize revenue.9.Matching principl e配合原则，收支对应原则: prescribes that a company must records its expensesincurred to generate the revenue reported.10.Going-concerning assumption持续经营假设: means that accounting information refl ects apresumption that the business will continue operating instead of being cl osed or sol d.11.Audit审计，审核: through review of an organization’s accounting records and accounting reportsand return make by the analysis. income净收益，收益净额: amount a business earns after paying all expenses and costsassociated with its sales and revenues.13.Income statement损益表: d escribes a company’s revenues and expenses al on g with the resulting netincome or l oss over a period time due to earnings activities.14.Statement of owner’s equity所有者: explains changes in equity from net income (or l oss) and fromany owner investments and withdrawals over a period of time.15.Balance sheet资产负债表，平衡表: d escribes a company’s financial position (types and amounts ofassets liabilities and equity) at a point in time.16.Statement of cash fl ows现金流量表: id entifies cash infl ows (receipts) and cash outfl ows (payments)over a period of time.17.Owner’s withdr awals account所有者提款账户: the account used to record the transfers of assetsfrom a business to its owner.18.Liabilities负债: is what a company owes its no owners (creditors) in future payments, products, orservices.19.Accounting equation会计恒等式: Assets=Liabilities + Equity.20.Accrued expense应计费用，预提费用: refer to costs that are incurred in a period but are bothunpaid and unrecord ed.21.Operating cycl e:经营周期is the time span from when cash is used to acquire goods and servicesuntil cash is received from the sale of goods and services.22.Sharehol d ers (investors):股东，投资者are the owners of a corporation.23.Current radio:目前的广播电a ratio used to help evaluate a company’s ability to pay its d ebts in thenear future.24.Merchandise inventory:库存商品，商品盘存refers to products that a company owns and intends tosell.25.Cash discount:现金折扣，现金贴现reduction in a receivabl e or payabl e if it is paid within thediscount period. sellers can grant a cash discount to discourage buyers to pay earlier26.Gross profit:总利润also call ed Gross margin, which equals net sales cost of goods sold.27.Credit period:付款/信贷期限the amount of time all owed before full payment is due.28.Acid-test ratio酸性比率测试: a ratio used to assets a company’s ability to pay its current liabilities;d efined by current liabilities.29.Selling expense:销售费用includ e the expenses of promoting sales by displaying and advertisingmerchandise, making sales, and d elivering goods to customers.(P124)30.General and administrative expense（一般）管理费用: support a company’s overall operatio ns andinclud e expenses related to accounting, human resource management, and financial management. 31.Time period assumption: 会计分期假设presumes that the life of a company can be divid ed intotime periods, such as months and years, and that useful reports can be prepared for those periods.32.Account receivabl e:应收账款are held by a sell er and d ecreased by customers to sell ers.33.Prepaid account (also call ed prepaid expenses): 预付费用/待摊费用are assets that representprepayments of future expenses (not current expenses).34.Purchase discount:购物折扣purchaser’s d escripti on of a cash discount received from a supplier ofgoods.35.Sales discount:销售折扣sell er’s d escription of a cash discount granted to buyers in return for earlypayment.36.Trad e discount:商业折扣reduction below list or catalog price hat is negotiated in setting the price ofgoods.37.FOB shipping point (FOB factory):寄发地交货means the buyer accepts ownership when the goodsd epart the s eller’s place of business.38.FOB d estination: 目的地交货，离岸交货means ownership of goods transfers to the buyer when thegoods arrive at the b uyer’s pl ace of business.39.Credit terms: 信贷条件，赊销付款条件for a purchase includ e the amounts and timing of paymentsfrom a buy to a seller.40.Current assets:流动资产are cash and other resources that are expected to be sol d, coll ect, or usedwithin one year or the company’s op erating cycle, whichever is l onger.41.Plant assets: 固定资产refers to l ong-term tangibl e assets used to produce and sell products andservices.42.Long-term investment:长期投资notes receivabl e and investments in stocks and bonds are long-termassets when they are expected to be hel d for more than the l onger of one year or the operating cycl e.43.Intangibl e assets:无形资产are long-term resources that benefit business operations, usually lackphysical form, and have uncertain benefits. (P98)44.Current liabilities: 流动负债are obligations due to be paid or settled within one year or theoperating cycl e, whichever is l onger.(P98)45.Long-term liabilities长期负债: are obligations not due within one year or the operating cycl e,whichever is l onger.46.Accounting cycl e:会计周期refers to the steps in preparing financial statements.(P95)47.Temporary (or nominal) accounts:临时账户，名义账户accumulate data related to one accountingperiod.48.Permanent (or real) accounts:永久账户，实际账户report on activities related to one or more futureaccounting periods.49.account reveivabl e(应收账款)are liquid assets,usually being converted into cash within a period of30 to 60 days. Therefore, accounts receivabl e from customers are classified as current assets,appearing in the balance sheet immediately after cash and marketabl e securities.50.d oubl e entry accounting（复式记账法）is a standard accounting method that involves each transactionbeing record ed in at l east two accounts, resulting in a d ebit to one or more accounts and a credit to one or more accounts.51.materiality（重要性原则）refers to the magnitud e of an omission or misstatement of accountinginformation that, consid ering the circumstances ,make it likely that the judgment of a reasonabl e person relying on the information would have been influenced by the omission or misstatement. 52.perpetual inventory system（定期盘存制）Und er the perpetual inventory system,the inventoryrecords are kept up-to-date.Virtually all large business organizations use perpetual inventorysystems.53.unearned revenue（预收账款/预收收入）A liability for unearned revenue arises when a customerpays in advance.54.financial statement（财务报表）Four related accounting reports that summarize the current financialposition of an entity and the results of its operations for the preceding year(or other thim period) 55.historical cost（历史成本）The historical cost of an asset is the exchange price in the transaction inwhich the asset was acquired56.d epreciation（折旧）The systematic allocation of the cost of an asset to expense over the years of itsestimated useful57.accrued liabilities（应计负债）The liabilities to pay an expense which has accrued during theperiod.Accrued liabilities are also call ed accrued expenses.58.income（收入）is d efined as increases in economic benefits during the reporting period,in the form ofinfl ows or enhancements of assets,or d ecreases of liabilities tha result in increases in equity,other than those relating to contributions from equity participants.Income encompasses both revenue and gains.59.asset（资产）is a resource controll ed by the enterprise as a result of past events and from whichfuture economic benefits are expected to fl ow to the enterprise.60.account payabl e（应付账款）often are subdivid ed into categories of trad e accounts payabl e and otheraccounts payabl e.Trad e accounts payabl e are short—term obligations to suppliers for purchases or merchandise.Other accounts payabl e includ e liabilities for any goods and services other thanmerchandise.61.FIFO（先进先出法）A method of computing the cost of inventory and the cost of goods sold based onthe assumption that the first merchandise acquired is the first merchandise sol d,and that the ending inventory consists of the most recently acquired goods.62.Goodwill（商誉）The present value of expected future earnings of a business in excess of the earningsnormally realized in the industry.63.cost principl e（历史成本原则）The cost principl e states that assets shoul d by record ed at theircost.Cost is the value exchanged at the time something is acquired.64.权责发生制accrual basis of accounting: Means that revenues, expenses and other changes in assets,liabilities, and owners’ equity are accounted for in the period in which the economic event takes place, not necessarily when the cash infl ows and outfl ows take place利润表income statement :An income statement is a financial statement showing the results of operations for a business by matching revenue and related expenses for a particular accountingperiod .It shows the net income or net loss.永续盘存制perpetual inventory system: Is a system of accounting for merchandise that provid es a continuous record showing the quantity and cost of all goods on hand.总账账户control accounts: Grouped according to the el ements of financial statement, the general l edger hol ds the individual control accounts.费用Expense: Generally speaking, expenses are costs that are charged against ，revenue and that are related to the entity’s basic business.二简答题1.State the steps of establishing internal control over cash(简述建立现金内部控制的程序) (1)Separate the function of handling cash from the maintenance of accounting records（将现金收付与记账职务分离）(2)Prepare an immediate control listing of cash receipts at the time and place that themoney is received（在收到现金的当时当地编制一份现金收入控制清单）(3)Require that all cash receipts be d eposited daily in the bank（每日都要将现金收入存入银行）(4)Make all payments by check（所有的付款都以支票形式通过银行支付）(5)Separate the function of approving expenditures from the function of signing checks（将核准支出职务与签发支票职务分离）2.What are the quality chatacteristics of accounting information（会计信息质量特征）：Rel evance（相关性）,reliability（可靠性）,und erstandability（可理解性）,comparability（可比性）3.Describe the steps(procedures) of accounting cycl e（描述会计循环的步骤）(1)id entify transactions or events to be record ed（确认需要记录的交易或事项）(2)journalize transactions and events（将交易或事项登记到日记账）(3)posting from journal to l edger（从日记账过入）(4)prepare unadjusted trial balance（编制调整前余额试算表）(5)journalize and post adjusting journal entries（将调整分录计入日记账并过入分类账）(6)prepare adjusted trial balance（编制调整后余额试算表）(7)prepare financial statements（编制财务报表）(8)journalize and post cl osing entries（将结账分录计入日记账并过账）(9)prepare post-cl osing trial balance（编制结账后余额试算表）4.Briefly state the four assumptions and explain（简述四个会计假设）Separate entity（会计主体假设）,going concern（持续经营假设）.,time-period（会计分期假设）,monetary unit（货币计量假设）5.Briefly state the classification investment in securities（简述有价证券的列报）Trading securities（交易性证券），held-to-maturity securities（持有至到期投资）,availabl e-for-sale securities（可供出售的金融资产）,l ong-term investment in equity securities（长期股权投资）6.What are the accounting el ements（会计要素）Assets（资产）,liabilities（负债）,owners’ equity（所有者权益）,revenues（收入）,expenses（费用）,income （利润）d oubl e-entrybookkeeping 复式记账financial statement财务报表accounting equation 会计恒等式owner’s equity所有者权益retained earning 留存收益source d ocument原始凭证computerized accounting system 电算化会计系统accumulated d epreciation累计折旧Proprietorship所有权post-cl osing trial balance调整后试算accrued expense应计费用real/permanent account 实账户nominal/temporary account虚账户notes to the financial statements会计报表附注balance sheet资产负债表Accounting Standards for Business Enterprise 企业会计准则cash fl ow statement 现金流量表l ong-term solvency长期偿债能力short-term liquidity 短期偿债能力provision for bad d ebts 坏账准备construction in progress在建工程d eferred tax on d ebit/credit 递延税款借贷项estimabl e liabilities 预计负债paid-in captical 实收资本accounting treatment 会计处理current period 当期inflation 通货膨胀purchasing power 购买力profit distribution 理论分配accounting information 会计信息IASC 国际会计准则委员会FASB 财务会计准则委员会Liquidity 流动性cash equivalent 现金等价物Financial instrument 金融工具semifinished goods 半成品Low-value and perishabl e articles 低值易耗品weighted average 加权平均法accelerated d epreciation method 加速折旧法moving average 移动平均法trad emark 商标权Copyrights 著作权par value 票面价值sales all owances 销售折让cost variance 成本差异periodic expense 期间费用turnover tax 流转税non-operating expense 营业外支出theoretical framework 理论框架financial distress 财务困境current ratio 流动比例P/E ratio 市盈率M/B 市值与账面价值比capitalization ratio 资本比率Horizontal analysis 横向分析fiscal period 会计期间Vertical analysis 纵向分析price ind ex 价格指数subsidiary 子公司parent company 母公司generally accepted accounting principl es 公认会计准则calendar year 日历年度historical rate 历史汇率Receivabl es 应收账款payabl es 应付账款TQM 全面质量管理TOC 约束理论direct material 直接材料Ord er-getting cost 订单获取成本ord er-filling cost 订单获取成本process costing system 分布成本计算法job-ord er costing system 分批成本计算法step-variabl e cost 阶梯式成本cost formula 成本公式profit margin 贡献边际the high-l ow method 高低点法the scattergraph method 散布图法the least-squares regression method 最小二乘回归法cost behavior 成本性态。

管理会计Managerialaccounting习题Chapter01

True/False Questions1.Managerial accounting places less emphasis on precision and more emphasis onflexibility and relevance than financial accounting.Answer: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement LO: 1 Level: Medium2.Managerial accounting is not governed by generally accepted accounting principles(GAAP).Answer: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Decision Making, Measurement LO: 1 Level: Easy3.Financial accounting and managerial accounting reports must be prepared inaccordance with generally accepted accounting principles (GAAP).Answer: False AACSB: Reflective Thinking AICPA BB: Critical ThinkingAICPA FN: Measurement LO: 1 Level: Easy4.When carrying out their directing and motivating activities, managers mobilize theorganization's human and other resources so that the organization's plans are carriedout.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management,Critical Thinking AICPA FN: Decision Making LO: 2 Level: Easy5.When carrying out planning activities, managers rely on feedback to ensure that theplan is actually carried out and is appropriately modified as circumstances change.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Medium6.When carrying out their directing and motivating activities, managers select a courseof action and specify how the action will be implemented.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Medium7.Persons occupying staff positions provide support and assistance to other parts of theorganization.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Easy8.Staff departments generally have direct authority over line departments in anorganization.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Mediumrmal relationships and channels of communication often develop that do notappear on the organization chart.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management, Critical Thinking AICPA FN: Decision Making LO: 2 Level: Easy10.The controller's position in a retail company is considered a line position rather than astaff position.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Medium11.The Chief Financial Officer of an organization should present facts and refrain fromoffering advice and personal opinion.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Medium12. A strategy is a game plan that enables a company to attract customers bydistinguishing itself from competitors.Answer: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Decision Making LO: 2 Level: Easy13. A strategy requires effective use of Six Sigma improvement techniques.Answer: False AACSB: Reflective Thinking AICPA BB: Critical ThinkingAICPA FN: Decision Making LO: 2 Level: Medium14. A customer value proposition is essentially a reason for customers to choose acompany's products over its competitors' products.Answer: True AACSB: Reflective Thinking AICPA BB: Marketing AICPA FN: Decision Making LO: 2 Level: Easy15.Customer value propositions tend to fall into three broad categories--customerintimacy, operational excellence, and product leadership.Answer: True AACSB: Reflective Thinking AICPA BB: Marketing AICPA FN: Decision Making LO: 2 Level: Easypanies that adopt a customer intimacy strategy are in essence saying to their targetcustomers, “The reason you should choose us is because we understand and respond to your individual needs better than our competitors.”Answer: True AACSB: Reflective Thinking AICPA BB: Marketing AICPA FN: Decision Making LO: 2 Level: Easypanies that choose an operational excellence strategy are in essence saying totheir customers, “Choose us rather than our competitors because we strive for zerodefects.”Answer: False AACSB: Reflective Thinking AICPA BB: Marketing AICPA FN: Decision Making LO: 2 Level: Medium18. A value chain consists of the major business functions that add value to the company'sproducts and services.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Easy19.Efforts designed to increase the rate of output should generally be applied to theworkstation that is the constraint.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 3 Level: Easy20.The lean thinking model is a five step management approach that organizes resourcessuch as people and machines around the flow of business processes and that pulls units through theses processes in response to customer orders.Answer: True AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 3 Level: Easy21.Supply chain management involves acquiring and bringing inside the company all ofthe processes that bring value to customers.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 3 Level: Medium22.An enterprise system integrates data across an organization into a single softwaresystem that enables all employees to have simultaneous access to a common set ofdata.Answer: True AACSB: Reflective Thinking AICPA BB: Leveraging Technology AICPA FN: Leveraging Technology LO: 3 Level: Easy23.Corporate governance is the legal framework that allows managers to control anddirect lower-level workers on the job.Answer: False AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 3 Level: Medium24.The Sarbanes-Oxley Act of 2002 was intended to protect the interests of those whoinvest in publicly traded companies by improving the reliability and accuracy ofcorporate financial reports and disclosures.Answer: True AACSB: Reflective Thinking AICPA BB: Legal AICPA FN:Measurement LO: 3 Level: Easy25.The Standards of Ethical Conduct promulgated by the Institute of ManagementAccountants specifically states, among other things, that management accountantshave a responsibility to disclose fully all relevant information that could be reasonably be expected to influence an intended user's understanding of the reports, comments and recommendations presented.Answer: True AACSB: Ethics AICPA BB: Critical Thinking AICPA FN: Decision Making LO: 4 Level: EasyMultiple Choice Questions26.Managerial accounting places considerable weight on:A)generally accepted accounting principles.B)the financial history of the entity.C)ensuring that all transactions are properly recorded.D)detailed segment reports about departments, products, and customers.Answer: D AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPAFN: Measurement LO: 1 Level: Easy27.The plans of management are often expressed formally in:A)financial statements.B)performance reports.C)budgets.D)ledgers.Answer: C AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Measurement LO: 1 Level: Easy28.The phase of accounting concerned with providing information to managers for use inplanning and controlling operations and in decision making is called:A)throughput time.B)managerial accounting.C)financial accounting.D)controlling.Answer: B AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Measurement LO: 1 Level: Easy29. A staff position:A)relates directly to the carrying out of the basic objectives of the organization.B)is supportive in nature, providing service and assistance to other parts of theorganization.C)is superior in authority to a line position.D)none of these.Answer: B AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy30.For a manufacturing company, what type of position (line or staff) is each of thefollowing?Manager of a Data Processing Department Manager of a ProductionDepartmentA)Staff StaffB)Staff LineC)Line StaffD)Line LineAnswer: B AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy31. A _______________ position in an organization is directly related to the achievementof the organization's basic objectives.A)lineB)managementC)staffD)None of the above.Answer: A AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy32.______________ is an example of a line position.A)Controller for a merchandising companyB)Chief financial officer of a merchandising companyC)Store manager for Best BuyD)Human resources manager for a community collegeAnswer: C AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy33.Which of the following is NOT one of the three major customer value propositionsdiscussed in the text?A)customer intimacyB)discount pricingC)operational excellenceD)product leadershipAnswer: B AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy34.Which of the following is NOT one of the five steps in the lean thinking modeldiscussed in the text?A)Continuously pursue perfection in the business process.B)Identify value in specific products/services.C)Implement an enterprise system.D)Create a pull system that responds to customer orders.Answer: C AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 2 Level: Easy35.One consequence of a change from a push to a properly implemented pull productionsystem can be:A)an increase in work in process inventories.B)an extremely difficult cultural change due to enforced idleness when demand fallsbelow production capacity.C)an increased mismatch between what is produced and what is demanded bycustomers.D)an increase in raw materials inventories.Answer: B AACSB: Analytic AICPA BB: Industry, Resource ManagementAICPA FN: Decision Making LO: 3 Level: Hard36.All of the following are characteristics of a pull production system EXCEPT:A)Inventories are reduced to a minimum by purchasing raw materials and producingunits only as needed to meet consumer demand.B)Raw materials are released to production far in advance of being needed to ensureno interruptions in work flows due to shortages of raw materials.C)Products are completed just in time to be shipped to customers.D)Manufactured parts are completed just in time to be assembled into products.Answer: B AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 3 Level: Medium37.The five step framework used to guide Six Sigma improvement efforts includes all ofthe following EXCEPT:A)Analyze.B)Control.C)Digitize.D)Measure.Answer: C AACSB: Reflective Thinking AICPA BB: Resource ManagementAICPA FN: Decision Making LO: 3 Level: Medium38.The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT:A)The audit committee of the board of directors of a company must hire,compensate, and terminate the public accounting firm that audits the company'sfinancial reports.B)Financial statements must be audited once every three years by the GovernmentAccounting Office.C)Both the CEO and CFO must certify in writing that their company's financialstatements and accompanying disclosures fairly represent the results of operations.D) A company's annual report must contain an internal control report.Answer: B AACSB: Reflective Thinking AICPA BB: Legal AICPA FN:Measurement LO: 3 Level: Medium39.The Institute of Management Accountants' Standards of Ethical Conduct contains apolicy regarding confidentiality that requires that management accountants:A)refrain from disclosing confidential information acquired in the course of theirwork except when authorized by management.B)refrain from disclosing confidential information acquired in the course of theirwork in all situations.C)refrain from disclosing confidential information acquired in the course of theirwork except when authorized by management, unless legally obligated to do so.D)refrain from disclosing confidential information acquired in the course of theirwork in all cases since the law requires them to do so.Answer: C AACSB: Ethics AICPA BB: Critical Thinking AICPA FN: Decision Making LO: 4 Level: Hard40.Which of the following is NOT one of the Institute of Management Accountants' fiveStandards of Ethical Conduct?A)CompetenceB)ConfidentialityC)IndependenceD)IntegrityAnswer: C AACSB: Ethics AICPA BB: Critical Thinking AICPA FN: Decision Making LO: 4 Level: Medium。

财务会计Managerial Accounting-CN

• 公司可以选择将现金流量表的重点放在现金或现金及现金等价物上。 • 术语cash包括库存现金和银行账户中的现金，这些现金可以根据需要
提取。
• 现金等价物是期限少于三个月的短期、高流动性的金融工具;它们可以迅速转换成现金。
• 公司的现金流分为三类：经营、投资和融资。
• 经营活动通常涉及向顾客提供商品和服务有关的交易。它们反映了损益表上的典型和经常性交易的现金流影响。经营现金流入，比如说:客户的收入和从投资中获得的利息和股息。营运现金流出包括支付给员工和供应商的款项以及利息和税金。
Section 2 Cash flow Statement
第二节现金流量表
• 请记住，应计利润（来自损益表的净收入）并不一定反映现金流。许多收入和支出交易没有直接的现金流效应。
• 现金流量表提供了关于公司流动资产和财务灵活性的信息(通过改变现金流的数量和时间来应对意外事件的能力)。
• 现金及现金等价物
• 投资活动通常涉及收购和处置非流动资产产生的现金流。现金流出产生于购买（投资）房地产、厂房和设备、发放贷款和收购其他公
司的投资。现金流入来自于处置财产、厂房和设备；收取贷款（利
息除外）；以及出售投资。
• 融资活动包括获得和偿还融资产生的现金流。现金流入来自所有者的出资（向股东发行股票以换取现金）和贷款。现金流出产生于支
资本
提款
收入
支出
借记
贷记
借记
贷记
贷记Biblioteka 借记借记贷记
（千美元）
净销售额销售成本毛利销售，一般费用及行政费用营业收入其他收入利息支出所得税前收入所得税准备金净收入
Altron公司损益表
截至2019年1月3日年度

Managerial Accounting14th Edition Solution Chap002

2-2 a. Direct materials are an integral part of a finished product and their costs can be conveniently traced to it. b. Indirect materials are generally small items of material such as glue and nails. They may be an integral part of a finished product but their costs can be traced to the product only at great cost or inconvenience. c. Direct labor consists of labor costs that can be easily traced to particular products. Direct labor is also called ―touch labor.‖ d. Indirect labor consists of the labor costs of janitors, supervisors, materials handlers, and other factory workers that cannot be conveniently traced to particular products. These labor costs are incurred to support production, but the workers involved do not directly work on the product. e. Manufacturing overhead includes all manufacturing costs except direct materials and direct labor. Consequently, manufacturing overhead includes indirect materials and indirect labor as well as other manufacturing costs. 2-3 A product cost is any cost involved in purchasing or manufacturing goods. In the case of manufactured goods, these costs consist of direct materials, direct labor, and manufacturing overhead. A period cost is a cost that is taken directly to the income statement as an expense in the period in which it is incurred.

Managerial Accounting Ch06

BRIEF EXERCISE 6-8 Total break-even = ($199,500 ÷ $28.50*) = 7,000 units *Computed in BE 6-7 Sales Units Units of A12 = .60 X 7,000 = 4,200 Units of B22 = .25 X 7,000 = 1,750 Units of C124 = .15 X 7,000 = 1,050 7,000 BRIEF EXERCISE 6-9 (a) Weighted-average contribution = margin ratio Total break-even point = in dollars (.30 X .10) + (.50 X .20) + ( .20 X .45) = .22
BRIEF EXERCISE 6-3 Contribution margin ratio = [($250,000 – $170,000) ÷ $250,000] = 32% Required sales in dollars = $120,000 ÷ 32% = $375,000
BRIEF EXERCISE 6-4 (a) $400Q = $260Q + $210,000 + $0 $140Q = $210,000 Q = 1,500 units (b) Contribution margin per unit $140, or ($400 – $260) X = $210,000 ÷ $140 X = 1,500 units
Product 2 has a higher contribution margin per limited resource, even though it has a lower contribution margin per unit. Given that machine hours are limited to 2,000 per month, Dye Corporation should produce Product 2.

Managmerialaccounting财务决策

Is the company earning satisfactory income?
How does the company
compare in size and
profitability with its
competitthey
catch us?
Will the company be able to pay its debts as they come due?
PPT文档演模板
2020/11/2
Managmerialaccounting财务决策
Introduction to managerial accounting
What is accounting? What is managerial accounting?
PPT文档演模板
2020/11/2
Managmerialaccounting财务决策
Can we afford to give employee PPpT文a档演y模板raises this year? 2020/11/2
Which product line is the most profitabMlanea?gmerialaccounting财务决策
QUESTIONS ASKED BY INTERNAL USERS
Internal Users
Marketing managers Production supervisors
Finance directors Company officers
PPT文档演模板
2020/11/2
Investors Creditors Tax authorities Regulatory agencies Customers Labor unions

管理会计第一章简介 managerial accounting chapter 16

Direct cost 直接成本： it is a cost that can be directly traced to a cost object, such as a product. 可以直接追溯到某一成本对象 cost object 的成本。如：Direct materials 蛋糕的包装盒子, 底盘的蛋糕胚子。 Direct labor 做蛋糕时的人工费。 Indirect cost 间接成本：it is a cost that can not be directly traced to a cost object. 不可以直接追溯到某一成本对象 cost object 的成本。如：Indirect materials 蛋糕上的椰蓉粉末,裱花的巧克力或果酱。Indirect labor 面包工厂保洁员的工资。
P774 Management accountability 管理责任：is the manager's responsibility to the various stakeholders of the company. Stockholders 利益相关者: include customers, creditors, suppliers and investors. Each group has an interest of some sort in the business.
Service company IS
P779
Merchandising Companies
李婷陈婷，开了一家专卖衣服的小店采购衣服 purchase goods 卖出衣服 sell goods
Walmart
Greg’s Tunes
Merchandising Companies 商业企业

管理会计双语测试题

管理会计双语测试题Managerial Accounting Review Question⼀、True/False QuestionsFor each of the following, circle the T or the F to indicate whether the statement is true or false.1Managerial accounting refers to the preparation and use of accounting information designed to meet the needs of decision makers inside the business organization.2Product costs are selling expenses that appear on the income statement.3Management accounting reports provide a means of monitoring , evaluating and rewarding performance.4Product costs are offset against revenue in the period in which the related products are sold, rather than the period in which the costs are incurred.5Manufacturing overhead is considered an indirect cost, since overhead costs generally cannot be traced conveniently and directly to specific units of product.6Overhead application rates allow overhead to be assigned at the beginning of a period to help set prices.7Pepsi Cola would most likely use a job order costing system.8Activity-based costing tracks cost to the activities that consume resources.9Activity based costing uses multiple activity bases to assign overhead costs to units of production.10The two steps required in Activity Based Costing are 1) Identify separate activity cost pools and 2) allocate each cost pool to the product using an appropriate cost driver11The new manufacturing environment is characterized by its shift toward labor intensive production and declining manufacturing overhead costs.12A cost driver is an activity base that is highly correlated with manufacturing overhead costs.13In ABC, only one cost driver should be used in applying overhead.14As companies become more automated overhead costs decrease and direct labor costs increase.15An equivalent unit measures the percentage of a completed units cost that is present in a partially finished unit.16Costs do not flow through a process cost system in the same sequence as actual products move through the assembly process.17Non-value added activities are those that do not add to a product's desirability.18Target costing centers on new product and service development as opposed to managing the value chain for existing products.19In the target costing process, target price is computed by adding the desired profit margin to the target product cost.20Target cost equals target price plus profit margin.21Variable costs which increase in total amount in direct proportion to an increase in output represent a constant amount per unit of output.22Any business which operates at less than capacity will have larger fixed costs than variable costs.23With variable costs, the cost per unit varies with changes in volume.24The contribution margin is the difference between total revenue and fixed costs.25The volume of output which causes fixed costs to be equal in amount to variable costs is called the break-even point.26Any business which operates at less than capacity will have larger fixed costs than variable costs.27Margin of safety is the dollar amount by which actual sales volume exceeds the break-even sales volume.28Life cycle costing considers all potential resources used by the product over its entire life.29Economies of scale can be achieved by using facilities more intensively.30The break-even point is the level of activity at which operating income is equal to cost of goods sold.31Contribution margin ratio is equal to contribution margin per unit divided by unit sales price.32Opportunity cost is the benefit that could have been obtained by pursuing an alternate course of action.33All incremental revenue or incremental costs are relevant.34Sunk costs are relevant to decisions about replacing plant assets.35In determining whether to scrap or to rebuild defective units of product, the cost already incurred in producing the defective units is not relevant.36In making a decision, management will look thoroughly at both relevant and irrelevant data.373.Responsibility margin is useful in evaluating the consequences of short-run marketing strategies, while contribution margin is more useful in evaluating long-term profitability.38The transfer price is the dollar amount used in recording sales to primary customers.39Under variable costing, fixed manufacturing costs are treated as period costs, rather than product costs.40The transfer price is the dollar amount used in recording sales to primary customers.41Variable costing treats all fixed manufacturing costs as expenses of the current period.42In full costing when production rises above the amount of sales, some of the fixed costs will remain in inventory.43Return on Investment (ROI) tells us how much earnings can be expected for the average invested dollar.44Capital turnover can be improved by reducing invested capital while keeping sales constant.45The value chain consists of only those activities that increase the selling price of a product as it is distributed to a customer.46Residual income is calculated by subtracting the minimum acceptable return on the average invested capital from the operating income.⼆、Multiple Choice QuestionsChoose the best answer for each of the following questions and insert the identifying letter in the space provided.1.Costs that are traceable to a particular unit and are inventoriable are calledA) Period costs B) Product costs C) Overhead costs D) Job costs2. .Determine the amount of manufacturing overhead given the following information:a. Depreciation on a factory building $2,400b. Telephone expense in factory office750c. Telephone expense in sales showroom850d. Factory foreman’s salary5000e. Maintenance for factory` 800f. Maintenance for sales showroom 680A) $4,010 B) $9,800 C) $8,950 D) $10,54024.Goods that are still in the production process would be in which account?A) Materials inventory B) Work-in-process inventory C)Finished goods inventory D)Cost of goods sold29.The principal difference between managerial accounting and financial accounting is that managerial accounting information is:A) Prepared by managers.B) Intended primarily for use by decision makers inside the business organization.C) Prepared in accordance with a set of accounting principles developed by the Institute of CertifiedManagerial Accountants.D) Oriented toward measuring solvency rather than profitability.30.Management accounting systems are designed to assist organizations in the performance of all of the following functions except:A) The assignment of decision-making authority over company assets.B) Planning and decision-making.C) Monitoring, evaluating and rewarding performance.D) The preparation of income tax returns.35.In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is less likely to:A) Focus upon the entire organization as the accounting entity. B) Focus upon future accounting periods.C) Make use of estimated amounts. D) Be tailored to the specific needs of an individual decision maker.4.If the salaries of the sales staff of a manufacturing company are improperly recorded as a product cost, what will be the likely effect on net income of the period in which the error occurs?A) Net income will be overstated. B) Net income will be understated.C) Net income will be unaffected. D) Net income will be understated only if inventory levels rise.5.Manufacturing overhead is best described as:A) All manufacturing costs other than direct materials and direct labor.B) All period costs associated with manufacturing operations.C) Indirect materials and indirect labor.D) All operating expenses other than selling expenses and general and administrative expenses.43.Underapplied overhead at the end of a month:A) Results when actual overhead costs are less than amounts applied to work in process.B) Indicates a poorly designed cost accounting system.C) Is represented by a debit balance remaining in the Manufacturing Overhead account.D) Is represented by a credit balance remaining in the Manufacturing Overhead account.58.The account Work-in-Process InventoryA) Consists of completed goods that have not yet been soldB) Consists of goods being manufactured that are incompleteC) Consists of materials to be used in the production processD) Consists of the cost of new materials used, labor but not overhead.66.Red Star Company uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours.During the current period, Job No. 288 was charged $400 in direct materials, $450 in direct labor, and $180 in manufacturing overhead. If direct labor costs an average of $15 per hour, the company's overhead application rate is:A) $9 per direct labor hour. B) $6 per direct labor hour.C) $17 per direct labor hour. D) $20 per direct labor hour.24.The best cost system to use for a company producing a continuous stream of similar items would be aA) Job order system B) Process costing system C) Production costing systemD) No cost system is required when jobs are similar64.Ken Gorman’s Company uses a job order cost system and has established a predetermined overhead application rate for the current year of 150% of direct labor cost, based on budgeted overhead of $900,000 and budgeted direct labor cost of $600,000. Job no. 1 was charged with direct materials of $30,000 and with overhead of $24,000.The total cost of job no. 1:A) Is $54,000. B) I s $70,000. C)Is $90,000. D) Cannot be determined without additional information.27.Equivalent units of production areA) A measure representing the percentage of a unit's cost that has been completed.B) May be computed separately for each input added during productionC) May be assigned to beginning work-in-process or ending work-in-processD) All of the above27.Equivalent units of production areA) A measure representing the percentage of a unit's cost that has been completed.B) May be computed separately for each input added during productionC) May be assigned to beginning work-in-process or ending work-in-processD) All of the above21.Process costing would be suitable forA) Automobile repair B) Production of television sets C) Boat building D) K itchen remodeling Use the following to answer questions 75-76:Riverview Company's budget for the coming year includes $6,000,000 for manufacturing overhead, 100,000 hours of direct labor, and 500,000 hours of machine time.75. Refer to the above data. If Riverview applies overhead using a predetermined rate based on machine-hours,what amount of overhead will be assigned to a unit of output which requires 0.5 machine hours and 0.25 labor hours to complete?A) $6.00. B) $15.00. C) $21.00. D) S ome other amount.76. Refer to the above data. If Riverview applies overhead using a predetermined rate based on labor-hours, whatamount of overhead will be assigned to a unit of output which requires 0.5 machine hours and 0.25 labor hours to complete?A) $6.00. B) $15.00. C) $21.00. D) S ome other amount.21.Process costing would be suitable forA) Automobile repair B) Production of television sets C)Boat building D)Kitchen remodeling21.Which one of the following is not one of the basic procedures related to ABC?A) Identify the activity. B) Create an associated activity cost pool.C) Transact identified cost centers. D) Calculate the cost per unit of activity.23.Examples of value-adding activities include all of the following except:A) Product design. B) Assembly activities.C) Machinery set-up activities. D) Establishing efficient distribution channels.26.Just-in-time manufacturing systems are also known as:A) Supply push systems. B)Supply pull systems. C)Demand push systems. D) Demand pull systems.28.Target costing is directed toward:A) Reducing the activity costs associated with existing products.B) Identifying the amount by which the costs of existing products must be reduce to achieve a target profitmargin.C) The creation and design of products that will provide adequate profits.D) The improvement of existing production processes by eliminating non-value adding activities.30.During which element of manufacturing cycle time is value added to products?A) Storage and waiting time. B) Processing time.C) Movement time. D) Inspection time.33.Four categories of costs associated with product quality are:A) External failure, internal failure, prevention, and carrying.B) External failure, internal failure, prevention, and appraisal.C) External failure, internal failure, training, and appraisal.D) Warranty, product liability, prevention, and training.41.During cycle time, value is added only duringA) Processing time. B) Storage and waiting time. C) Movement time. D) Inspection time.26.A semivariable cost:A) Increases and decreases directly and proportionately with changes in volume.B) Changes in response to a change in volume, but not proportionately.C) Increases if volume increases, but remains constant if volume decreases.D) Changes inversely in response to a change in volume.27.Which of the following is an example of a fixed cost for an airline?A) Depreciation on the corporate headquarters. B) Fuel costs.C) Income taxes expense. D) Passengers' meals.28.In order to calculate break-even sales units, fixed costs are divided by:A) Contribution margin per unit. B) Contribution margin percentage.C) Target operating income. D) Sales volume.29.A company's relevant range of production is:A) The production range from zero to 100% of plant capacity.B) The production range over which CVP assumptions are valid.C) The production range beyond the break-even point.D) The production range that covers fixed but not variable costs.30.The break-even point in a cost-volume-profit graph is always found:A) At 50% of full capacity.B) At the sales volume resulting in the lowest average unit cost.C) At the volume at which total revenue equals total variable costs.D) At the volume at which total revenue equals total fixed costs plus total variable costs.32.The contribution ratio is computed as:A) Sales minus variable costs, divided by sales. B) F ixed costs plus variable costs, divided by sales.C) Sales minus fixed costs, divided by sales. D) S ales divided by variable costs.33.In comparison to selling a product with a low contribution margin ratio, selling a product with a high contribution margin ratio always:A) Requires less dollar sales volume to cover a given level of fixed costs.B) Results in a greater margin of safety.C) Results in higher operating income. D) Results in a higher contribution margin per unit sold.36.How will a company's contribution margin be affected by an investment in equipment that increases fixed costs in order to achieve a reduction in direct labor cost?A) Contribution margin will increase. B) Contribution margin will fall.C) Contribution margin will either increase or decrease depending on the relative magnitudes of the changesin fixed and variable costs. D) Contribution margin will remain the same.43.If a product sells for $10, variable costs are $6 and fixed costs are $400,000 what would total sales have to be in order to break-even?A) $160,000 B) $166,667 C) $1,000,000 D) $266,66746.If unit sales prices are $10 and variable costs are $6 per unit how many units would have to be sold to break even if fixed costs equal $12,000?A) $1,200 B) $2,000 C) $3,000 D) $2,80062.A company with an operating income of $65,000 and a contribution margin ratio of 55% has a margin of safety of:A) $35,750. B) $118,182.C) $153,932. D) It is not possible to determine the margin of safety from the information provided.63.The following information is available:Sales ............................................................................................. $100,000Break-even sales ........................................................................ $40,000Contribution margin ratio ............................................................ 25%What is the operating income?A) $0. B) $75,000. C) $87,500. D) $12,500.65. A company with monthly fixed costs of $140,000 expects to earn monthly operating income of $10,000 byselling 5,000 units per month. What is the company's expected unit contribution margin?A) $30. B) $28.C) $2. D) The information given is insufficient to determine unit contribution margin.Use the following to answer questions 82-86:Empire Company produces a single product. The selling price is $50 per unit, and variable costs amount to $20 per unit. Empire's fixed costs per month total $80,000.82. Refer to the above information. What is the contribution margin ratio of Empire's product?A) 25%. B) 75%. C) 60%. D) 40%.83. Refer to the above information. What is the monthly sales volume in dollars necessary to break even? (Rounded)A) $320,000. B) $106,667. C) $200,000. D) $133,333.84. Refer to the above information. How many units must be sold each month to earn a monthly operatingincome of $25,000?A) 833. B) 2,300. C) 3,500. D) S ome other amount.85.Refer to the above information. What will be the monthly margin of safety (in dollars) if 3,000 units are sold each month?A) $16,667. B) $100,000. C) $12,000. D) $150,000.86. Refer to the above information. What will be Empire's monthly operating income if 3,500 units are sold eachmonth?A) $15,000. B) $25,000. C) $75,000. D) $105,000.24.A cost that has already been incurred and cannot be changed is called aA) Opportunity cost B) Out of Pocket cost C) Joint cost D) Sunk CostUse the following to answer questions 46-48:Tech Products, Inc. is interested in producing and selling an improved widget. Market research indicates that customers would be willing to pay $95 for such a widget and that 50,000 units could be sold each year at this price. The current cost to produce the widget is estimated to be $60.46. Refer to the information above. If Tech Products requires a 25% return on sales to undertake production, whatis the target cost for the new widget?A) $60. B) $71.25. C) $75. D) Some other amount.47. Refer to the information above. Tech has learned that a competitor plans to introduce a similar widget at a priceof $85. If Tech requires a 25% return on sales, what is the target cost for the new widget?A) $75. B) $63.75. C) $21.75. D) $25.48.Refer to the information above. At a price of $85, Tech's market research indicates that it can sell 40,000 units per year. Assuming Tech can reach its new target cost, how will Tech's profit at the $85 price compare to what it would have earned in the absence of the competitor's product?A) Profit will be $12,500 greater. B) P rofit will be $12,500 smaller.C) Profit will be unaffected if Tech can reach the revised target cost. D) None of the above.33.In comparison to selling a product with a low contribution margin ratio, selling a product with a high contribution margin ratio always:A) Requires less dollar sales volume to cover a given level of fixed costs.B) Results in a greater margin of safety.C) Results in higher operating income.D) Results in a higher contribution margin per unit sold.26.Incremental revenuesA) Always increase revenue when one course of action is selected over anotherB) Always decrease revenue when one course of action is selected over anotherC) May increase or decrease when one course of action is selected over anotherD) Cause revenues to remain steady27.By choosing to go into business for himself, Joe Green foregoes the possibility of getting a highly paid job with alarge company. This is called a (n)A) Sunk cost B) Out-of-pocket cost C) Opportunity cost D) Joint Cost29.Which of the following types of cost are always relevant to a decision?A) Sunk costs. B) Average costs. C) Incremental costs. D) Fixed costs.40.Which cost is not relevant in making financial decisions?A) Sunk costs. B) Opportunity costs. C) Incremental costs. D) All three are relevant.Use the following to answer questions 50-52:John Stag Corporation manufactures and sells 1,000 tractors each month. The primary component in each tractor is the motor. John Stag has the monthly capacity to produce 1,300 motors. The variable costs associated with manufacturing each motor are shown below:Direct materials ............................................................................ $22Direct labor (14)Variable manufacturing overhead (27)Fixed manufacturing overhead per month (for up to 1,300 units of production) averages $26,000. Mary Doe, Inc., has offered to purchase 200 motors from John Stag per month to be used in its own outboard motors.50. Refer to the information above. If Mary Doe's order is rejected, what will be John Stag's average unit cost of manufacturing each motor?A) $83. B) $63. C) $89. D) Some other amount.51. Refer to the information above. What is the incremental cost of producing each additional motor?A) $26. B) $63. C) $89. D) Some other amount.52.Refer to the information above. Assuming John Stag wants to earn a pretax profit of $10,000 on this special order, what price must it charge Mary Doe?A) $62. B) $75 C) $94. D) Some other amount.55.Korler Company currently produces all of the components for its one product an electric eraser. The unit cost of manufacturing the motor for this eraser is:Direct materials ............................................................................ $3.40Direct labor .................................................................................. 3.20Variable overhead ........................................................................ 1.40Fixed overhead ............................................................................ 1.10The company is considering the possibility of buying this motor from a subcontractor and has been quoted a price of $7.60 per unit. The relevant cost of manufacturing the motor to be considered in reaching the decision is:A) $9.10. B) $8.00. C) $6.60. D) $4.80.63.Tony Co. manufactures four products. Direct materials and direct labor are available in sufficient quantities, but machine capacity is limited to 3,000 hours. Cost and revenue data for the four products are given below:Of the four products which is the most profitable for Tony Co.?A) Product A. B) Product B. C) Product C. D) Product D.29.A responsibility accounting system measures the performance of each of the following centers except:A) Profit center B) Investment center C) Control center D) Cost center29.A responsibility accounting system measures the performance of each of the following centers except:A) Profit center B) Investment center C) Control center D) Cost center38.The primary difference between profit centers and cost centers is that:A) Profit centers generate revenue. B) Cost centers incur costs.C) Profit centers are evaluated using return on investment criteria.D) Profit centers provide services to other centers in the organization.46.Cost centers are evaluated primarily on the basis of their ability to control costs and:A) Their return on assets. B) Residual income.C) The quantity and quality of the services they provide. D) Their contribution margin ratio.50.Under a variable costing system:A) All fixed manufacturing costs are treated as period costs.B) All fixed manufacturing costs are not treated as period costs.C) All variable manufacturing costs are treated as period costs.D) All variable costs, manufacturing and selling, are treated as product costs.50.Under a variable costing system:A) All fixed manufacturing costs are treated as period costs.B) All fixed manufacturing costs are not treated as period costs.C) All variable manufacturing costs are treated as period costs.D) All variable costs, manufacturing and selling, are treated as product costs.57.Responsibility margin is equal to:A) Revenue, less contribution margin and traceable fixed costs.B) Revenue, less variable costs.C) Revenue, less variable costs and traceable fixed costs.D) Revenue, less variable fixed costs, traceable fixed costs, and common costs.73.The human resources department of a large company would beconsidered:A) A cost center. B) A profit center. C) An investment center. D) A revenue center.17. Accounting systems can generate motivation byA) Creating and setting goals B) Measuring progress towards those goalsC) Allocating rewards towards goal achievement D) All of the above17.Accounting systems can generate motivation byA) Creating and setting goals B) Measuring progress towards those goalsC) Allocating rewards towards goal achievement D) All of the above25.The value chain usually starts with the _________ and ends with the ____________.A) Supplier, customer. B)Retailer, wholesaler.C) Customer, retailer. D) Retailer, customer./doc/dc5bca4fc850ad02df804105.html cy Stores has sales of $3,280,000, cost of sales of $1,360,000, and operating expenses of $608,000. What is Lacy's return on sales?A) 58.5%. B) 41.5%. C) 60%. D) 40%.41.Calculate the residual income assuming the following information:Operating earnings. $300,000Minimum acceptable return. 15%Invested capital. 1,500,000A) $225,000. B) $100,000. C) $75,000. D) $45,000.。

会计英语期末知识点总结

会计英语期末知识点总结1. Basic Concepts of Accounting1.1. Financial AccountingFinancial accounting is the process of recording, summarizing, and reporting financial transactions of a business to external parties such as investors, creditors, and regulators. It provides a comprehensive view of the financial performance and position of a company.1.2. Managerial AccountingManagerial accounting is the process of providing financial and non-financial information to internal management for decision making, planning, and control. It focuses on providing relevant and timely information to support the management in making informed decisions.1.3. Accounting PrinciplesGenerally Accepted Accounting Principles (GAAP) are a set of guidelines and rules that govern the accounting practices and procedures in the United States. These principles ensure consistency and comparability in financial reporting.1.4. Double-Entry AccountingDouble-entry accounting is a system in which every financial transaction has equal and opposite effects on at least two different accounts. This system ensures accuracy and completeness in recording financial transactions.1.5. Accrual Basis vs. Cash Basis AccountingAccrual basis accounting recognizes revenues when earned and expenses when incurred, regardless of when cash is received or paid. Cash basis accounting, on the other hand, recognizes revenues and expenses only when cash is received or paid.2. Financial Statements2.1. Balance SheetA balance sheet is a financial statement that shows the financial position of a company at a specific point in time. It presents the assets, liabilities, and equity of the business, providinga snapshot of its financial health.2.2. Income StatementAn income statement, also known as a profit and loss statement, shows the revenues, expenses, and profits (or losses) of a company over a specific period of time. It provides a summary of the company's financial performance.2.3. Statement of Cash FlowsThe statement of cash flows shows the sources and uses of cash in a company's operating, investing, and financing activities. It provides insights into the cash flow dynamics of a business.2.4. Statement of Retained EarningsThe statement of retained earnings shows the changes in a company's retained earnings over a specific period, including net income, dividends, and other adjustments. It reconciles the beginning and ending balances of retained earnings.3. Key Principles in Accounting3.1. Historical Cost PrincipleThe historical cost principle requires assets to be recorded at their original cost, rather than their current market value. This principle ensures reliability and objectivity in financial reporting.3.2. Revenue Recognition PrincipleThe revenue recognition principle states that revenues should be recognized when earned, regardless of when cash is received. This principle ensures that revenues are matched with the expenses incurred to generate them.3.3. Matching PrincipleThe matching principle requires expenses to be recognized in the same period as the revenues they help generate. This principle ensures that the income statement accurately reflects the profitability of a company.3.4. Full Disclosure PrincipleThe full disclosure principle requires companies to disclose all relevant information in their financial statements and footnotes, providing a complete and transparent view of their financial position and performance.3.5. Consistency PrincipleThe consistency principle requires companies to use the same accounting methods and techniques from one period to the next, providing consistent and comparable financial information.In conclusion, accounting is a vital function in any business organization. It provides crucial information that helps in decision-making, planning, and control. By understanding the basic concepts, financial statements, and key principles in accounting, stakeholders can make informed judgments about the financial health and performance of a company.。

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Step 2: Compute the payback period. Using the annual net cash inflow from above, the payback period can be determined as follows: Cost of the new equipment . . . . . . . . . . . . . . $80,000 Less salvage value of old equipment . . . . . . 5,000 Investment required . . . . . . . . . . . . . . . . . . . . . $75,000 Payback period = = Investment required Annual net cash inflow $75,000 = 2.5 years $30,000
Evaluation of the Payback Method
To illustrate, refer back to Example A on the previous page. Machine B has a shorter payback period than machine A, but it has a useful life of only 5 years rather than 10 years for machine A. Machine B would have to be purchased twice—once immediately and then again after the fifth year—to provide the same service as just one machine A.
Lease or buy
Cost reduction
Typical Capital Budgeting Decisions
Capital budgeting tends to fall into two broad categories.
1. Screening decisions. Does a proposed project meet some preset standard of acceptance?
In addition, any depreciation deducted in arriving at the project’s net operating income must be added back to obtain the project’s expected annual net cash inflow. To illustrate, consider the following data:
Sales . . . . . . . . . . . . . . . . . . . . $150,000 Variable expenses . . . . . . . . . 90,000 Contribution margin . . . . . . . 60,000 Fixed expenses: Salaries . . . . . . . . . . . . . . . . . . . 27,000 Maintenance . . . . . . . . . . . . . . . . 3,000 Depreciation . . . . . . . . . . . . . . . 10,000 Total fixed expenses . . . . . . . . . 40,000 Net operating income . . . . . . .$ 20,000 The vending machines can be sold for a $5,000 scrap value. The company will not purchase equipment unless it has a payback period of three years or less. Does the ice cream dispenser pass this hurdle?
When the annual net cash inflow is the same each year, this formula can be used to compute the payback period:
Payback period = Investment required Annual net cash inflow
Payback and Uneven Cash Flows
Step 1: Compute the annual net cash inflow. Because the annual net cash inflow is not given, it must be computed before the payback period can be determined: Net operating income . . . . . . . . . . . . . . . . . . . . . . . $20,000 Add: Noncash deduction for depreciation . . . . . . . 10,000 Annual net cash inflow . . . . . . . . . . . . . . . . . . . . . . $30,000
CAPITAL BUDGETING DECISIONS
Group 8 Reporters: 1. Abigail Tamundong 2. Manolo S. Baccay, Jr. 3. Cyrene Cauilan 4. Marietoni Fernandez
CAPITAL BUDGETING
Example A
Required:
Which machine should be purchased according to the payback method? Machine A payback period = $15,000 = 3.0 years
$5,000
Machine B payback period
Is the process of allocating resources for major capital, or investment, expenditures.
Typical Capital Budgeting Decisions
Plant expansion
Equipment selection Equipment replacement
Example B:
Goodtime Fun Centers, Inc., operates amusement parks.
Some of the vending machines in one of its parks provide very little revenue, so the company is considering removing the machines and installing equipment to dispense soft ice cream. The equipment would cost $80,000 and have an eight-year useful life with no salvage value. Incremental annual revenues and costs associated with the sale of ice cream would be as follows:
2. Preference decisions. Selecting from among several competing courses of action.
Typical Cash Outflows
Repairs and maintenance
Working capital
Initial investment
York Company needs a New milling machine. The company is considering two machines: Machine A and Machine B. Machine A costs $15,000, has a useful life of ten years, and will reduce operating costs by $5,000 per year. Machine B costs only $12,000 will also reduce operating costs by $5,000 per year, but has a useful life of only five years.
Incremental operating costs
Typical Cash Inflows
Salvage value
Release of working capital Incremental revenues
Reduction of costs
Time Value of Money
A dollar today is worth more than a dollar a year from now.
Therefore, projects that promise earlier returns are preferable to those that promise later returns.
• To illustrate, assume that for an investment of $8,000 you can purchase either of the two following streams of cash inflows: